Halford’s, the retailer of motoring and cycling products, is to become one of the first large UK employers to offer flexible pay.

The company has rolled out a new financial wellbeing initiative across its workforce.

As part of a partnership with FinTech Wagestream, the company will introduce a number of services for colleagues that aim to reduce financial stress and improve financial wellbeing.

Wagestream provides financial budgeting, savings, and education through an app, built around a flexible pay cycle, also known as Earned Wage Access (EWA.)

EWA sees employers return to offering colleagues flexible access to wages already earned and owed, throughout the month.

“Our colleagues’ resilience has meant that Halfords could not only operate as an essential retailer during the pandemic, but is ready to go from strength to strength as the UK opens back up,” said Wendy Taylor, chief people officer, Halfords. “That’s why we’re partnering with Wagestream to roll out a financial wellbeing programme that’s backed by leading charities and proven by data to improve quality of life."

Taylor added: "We’re proud to be the UK’s first listed retailer taking this step and excited to see the positive impact it will have on all our colleagues.”

Share Story: